package. despite criticism from top republicans in recent weeks, the president claims the gop is rallying behind him, tweet, do not underestimate the unity within the republican party. but some republican lawmakers are nervous about one gop tax reform proposal that could drastically limit 401k retirement accounts. i think we shouldn t tax 401ks, i don t think we should take tax security benefits and savings accounts dividends and dividends from corporate things because we often encourage people to save rather than spend. reporter: now as for the opioid crisis, the president vowed to build a wall on the mexican border. that won t stop all of the opioids, some do come in from mexico, but other parts of the world like china. the president also wants to see a massive advertising campaign to warn children to steer clear of drugs that of course harkens back to another famous ad campaign from the 1980s when nancy reagan advised young americans to just say no.
parties on trade and other issuis and want to do this right for ohio and for my country. steve: let s break all that down with the panel. lucy, you were muttering during that, that s not true. what s not true? first of all, how can we get an actual analysis if we don t know what s in the bill. we don t have the details yet, but the very few details we have indicate that the vast, vast majority and the benefits of that tax reform proposal they re proposing goes to the uber wealthy. it goes to the top 10 percent i ll of this country. that changes nothing! let reuben respond to that. the wealthiest people pay the most of the tax. they re the ones that pay the taxes for everyone else. who else is going to get the tax relief? steve: if you cut taxes. talks about fairness. steve: the fact they pay most of the taxes, they re going to get a tax cut. the real question, is will it help the working americans who lost out over the last 15 or so years. what do you think about that? steve: n
this year or else we potentially face a blood bath next year in the midterm elections. he s headed up here to the hill on tuesday to meet with senate republicans, but there is no absence of political pressure that they re creating to get this done but it definitely should be noted that the policy here is still being crafted. there is still no firm tax bill written and there still is not a consensus on the specific within the republican party. we have seen president trump ramp up the pressure pushing back over the weekend on the democratic talking point that they believe this tax reform proposal as it stands right now would hurt the middle class. here s president trump over the weekend. it is tax reform also but i call it tax cuts. it will be the biggest cuts ever in the history of this country. i will say the fact that health care is so difficult makes the taxes easier. the republicans want to get it done. it s a tremendous tax cut.
parties on trade and other issuis and want to do this right for ohio and for my country. steve: let s break all that down with the panel. lucy, you were muttering during that, that s not true. what s not true? first of all, how can we get an actual analysis if we don t know what s in the bill. we don t have the details yet, but the very few details we have indicate that the vast, vast majority and the benefits of that tax reform proposal they re proposing goes to the uber wealthy. it goes to the top 10 percent i ll of this country. that changes nothing! let reuben respond to that. the wealthiest people pay the most of the tax. they re the ones that pay the taxes for everyone else. who else is going to get the tax relief? steve: if you cut taxes. talks about fairness. steve: the fact they pay most of the taxes, they re going to get a tax cut. the real question, is will it help the working americans who lost out over the last 15 or so years. what do you think about that? steve: n
i want to start by talking about this tax reform proposal that looks luke it s gaining steam coming week. there is some reporting out, for example, about 401(k) contributions that suggests that perhaps middle class taxpayers may get hurt in this in a way we didn t fully understand. could you vote for a tax reform proposal that limited what americans could save in those retirement accounts? the conversations i ve had with president trump is completely different from what i m seeing coming out with whether it s mitch mcconnell, paul ryan, whatever side it s coming from. the president was adamant. it s not going tib to be a tax for the rich. anybody who receives a paycheck and at the end of the day you look at your deductions and you have a bottom line. are they going to have more at the end of the day thn now? everyone else has passive income. different ways to use it with pass-throughs and capital gains. i understand all of that. they are doing quite well.